Executive Garment Rental Service—A Study on Consumers’ Preferences

Abstract

Purpose: The purpose of the study is to find the market dynamics across executive garments rental service for men and to assess the importance of determinants of the growing consumer preferences for renting the garments for personal consumption. Methodology: Initially following a qualitative preliminary study and a review literature review, five factors are identified as feasible determinants of a preference for rental consumption. The determinants are examined through structured data analysis using multiple regression analysis and Cronbach's alpha. Findings: The results found that the constructs "importance of possession, convenience, and experience orientation" were significant. Price and trend were insignificant. Originality: This research is contributing to a new area of sharing economy, which has been preferred by the modern younger generation. The empirical evaluation among modern younger generation has proposed several determinants for garment rental preference.